Anybody ever sold there home by owner in IL? Any tips for somebody who’s planning on listing in the next few weeks?

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It’s paid for buy the buyer, so you wouldn’t want to do this. On average, sale by owner results in money on the table during negotiation.

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That assumes you’re either discounting your home to account for the lack of fees or you don’t drive hard enough of a bargain when in the counter offer process while also possibly discounting the time value of money.

I can FSBO and reduce my house 3% vs comps on market and likely sell faster (easier to have comps also for sale in higher density areas. I may not sell for a gross price higher than others, but net I’m the same or slightly better if my time to close is shorter.

In prior RE deals I’ve been in it’s not the realtor that comes up with offer or counter numbers, it’s the buyer or seller. I’m skeptical of the power of a realtor to wring a few extra grand out of the sales process.

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Check out the Zillow Offers and other services. Worth the effort pre-sale to get a "minimum" valuation for little work.

Get a good attorney early. They can guide you through the process. They also have the latest real estate contract (which the buyer would send you anyway, but good to familiarize yourself for counteroffer)

Be prepared to pay the seller realtor 2.5% for doing absolutely nothing. Say what percent commission you’re willing to offer in your ad copy. Agents will actively avoid FSBO unless they can get their normal fees.

Set up a good database/CRM for people coming in to your open house to get feedback on hot leads, adjust accordingly if reasonable

Be creative in marketing. Buy some Insta/FB ads and see where it goes

Think about getting your address as a domain, at least to redirect to your Zillow listing

Zillow has screwed FSBOs over by hiding them in search, so be prepared for lower traffic than it would have 6 months ago.

The above is true for a seller. I said “seller” when I should have said “buyer” and now I can’t edit.

Thanks all!

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